Reinsurance News
Insurance losses from Cyclone Alfred & North QLD floods reach AU $1.2bn
2nd April 2025
The Insurance Council of Australia (ICA) has reported that insurance losses from ex-Tropical Cyclone Alfred and the North Queensland floods in February have now surpassed AU$ 1.2 billion. According to the ICA, insurers have received over 95,000 claims totalling nearly $1 billion for damage caused by ex-Tropical Cyclone Alfred, along with ... Read the full article
Social Inflation is not going away in 2025 for most insurers, says BMO
2nd April 2025
According to a recent report from BMO Capital Markets, social inflation is expected to persist for most insurers in 2025, marking the third consecutive year requiring additional reserves. BMO anticipates additional speed-bumps in 2025 due to lawsuit inflation trend lines moving well past 10% levels. The report suggests that for about 33% ... Read the full article
Held transitions to Executive Chairman as Spirer assumes CEO role at J.S. Held
2nd April 2025
J.S. Held has announced Lee Spirer, the company’s current President and Chief Operating Officer (COO) is to become the company’s next Chief Executive Officer (CEO) as Jonathon Held intends to step down from the role. J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to ... Read the full article
Reinsurer ZEP-RE and Afreximbank partner to enhance cross border trade in Africa
2nd April 2025
Zep-Re (PTA Reinsurance Company) and African Export-Import Bank (Afreximbank) have launched the Trans-Africa Bond Alliance (TABA), a transformative initiative that aims to bridge the insurance capacity gap and empower African contractors to secure more construction and procurement projects. By providing robust transit guarantee mechanisms, TABA is expected to boost cross-border trade ... Read the full article
India reinsurance market conditions improved at 1.4 amid strong demand: Aon
2nd April 2025
Increased competition, capacity and engagement have improved the Indian reinsurance market conditions at the recent April renewals, according to a market update by Aon, a risk management and professional services firm. Aon disclosed that reinsurers are keen to grow in the region, as most placements achieved single-digit reductions for property reinsurance, ... Read the full article
Tokio Marine Intl. promotes David Feldman to Regional Head of Compliance UK & Europe
2nd April 2025
Tokio Marine HCC (TMHCC) International, part of the Tokio Marine HCC group of companies, has announced the promotion of David Feldman to Regional Head of Compliance, UK and Europe, at Tokio Marine Group, effective April 1, 2025. Feldman brings extensive experience to the role, where he will oversee the Legal & ... Read the full article
WTW acquires Global Commercial Credit
1st April 2025
Global advisory, broking, and solutions firm WTW has announced the acquisition of Global Commercial Credit, LLC (GCC) into Willis, a WTW business. The move significantly bolsters WTW's capabilities in trade credit and political risk insurance, particularly targeting growth in North America. The acquisition directly supports WTW's strategy to expand into specialized, high-growth ... Read the full article
Big four to deliver earnings growth in 2025 despite LA wildfire losses: Moody’s
1st April 2025
Despite sizable claims from the LA wildfires in January, Moody's anticipates strong earnings prospects for the four largest European reinsurers, Munich Re, Swiss Re, Hannover Re, and SCOR, in 2025, driven by persistently strong demand for reinsurance and robust investment returns. According to Moody's, the LA wildfire losses, estimated at between ... Read the full article
Geopolitical pressures impact confidence among financial services leaders: KPMG Survey
1st April 2025
KPMG, a provider of audit, tax, and advisory services, has revealed the findings of its latest UK Financial Services Sentiment survey, showing a decline in confidence among financial services leaders regarding future profitability. As geopolitical events continue to disrupt the global economy, over 60% of financial services leaders are increasing their ... Read the full article
Apollo names Mike Krefta as Non-Executive Director
1st April 2025
Apollo, an insurance platform, has announced the appointment of Mike Krefta as Non-Executive Director of Apollo Syndicate Management Limited, pending regulatory approval. With over two decades of experience in the insurance industry, spanning both London and Bermuda, Krefta brings a wealth of expertise. As the former CEO of Hiscox Re and ILS, ... Read the full article
Allianz Partners forms strategic partnership with MSI NZ
1st April 2025
Allianz Partners New Zealand has formed a strategic partnership with Mitsui Sumitomo Insurance Company Limited New Zealand Branch (MSI NZ), part of the MS&AD Insurance Group, to enhance and diversify insurance solutions in New Zealand. Effective April 1st, 2025, this multi-year partnership will enable Allianz Partners to continue providing high-quality products ... Read the full article
Gallagher Re appoints Michael Pickel as Executive Chair for DACH and Italy
1st April 2025
Gallagher Re has announced the appointment of Dr. Michael Pickel as Executive Chair for DACH and Italy, where he will work together with the leadership teams in both regions. Pickel brings a total of 36 years in the reinsurance industry, representing a unique set of skills and expertise to strengthen Gallagher ... Read the full article
Reinsurers willing to deploy additional capacity at Asia April 1 renewals: Aon
1st April 2025
Aon, a global risk management and professional services firm, has released its 2025 April Reinsurance Market Dynamics Report, detailing favourable conditions for buyers during the April 1 renewals, a period heavily focused on Asia and particularly Japan. According to Aon, reinsurers displayed a strong willingness to deploy additional capacity at this ... Read the full article
BHSI promotes Louise Kidd to Head of Underwriting in Europe
1st April 2025
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance solutions, has appointed Louise Kidd as the new Head of Underwriting for Europe. With over 22 years of experience in the insurance industry, Kidd is well-equipped to lead BHSI’s underwriting strategy across the region. Kidd joined BHSI in ... Read the full article
Korean wildfires will prompt insurers to strengthen cat insurance: S&P
1st April 2025
South Korea's worst wildfire in history could prompt insurers to strengthen their risk management and underwriting expertise, and to potentially seek more protection through reinsurance, as the event could make individuals seek more protection against catastrophe and weather-related events, according S&P Global Ratings analysts. "South Korea's wildfires will lead to moderately ... Read the full article
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